Shared by
rakeshravani
My thinking with YUM was as follows-- I didn't want to be short a stock that was down 18-19% in the pre-mkt. I wanted to play the bounce and then consider a short if there was one easy to read. The stock was either going to be flat or was going to have a reversal upto the open/70 and then figure out next move. I was right in not being short. I didn't see a consolidation worth 2.5 hours in a 50c range. The 1100 breakout upto 69 I didn't participate in and then the stock pulled all the way back to LOD. So, the stock did breakout, had a move to 69. It failed at 69 and trickled back into the range. Everything I had planned happened, only that the bounce was shallow and I missed it because I was not on time.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-10-07 12:25:10 | YUM | buy | $68.560 | long |
| 2015-10-07 12:38:34 | YUM | buy | $68.380 | long |
| 2015-10-07 12:41:55 | YUM | buy | $68.120 | long |
| 2015-10-07 13:21:26 | YUM | sell | $67.940 | long |
| 2015-10-07 13:26:00 | YUM | sell | $67.880 | long |
| 2015-10-07 13:26:00 | YUM | sell | $67.880 | long |
| 2015-10-07 13:29:42 | YUM | sell | $67.940 | 0 |
Comments
Mari_BOWS
This was a high float stock and perhaps that's why it didn't move as explosively as expected.
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I like your analysis! You were really on to something!